Plus   Neg

Hyundai, Honda, And Kia Motors May U.S. Sales Down

Hyundai Motor America reported that its total sales for the month of May was 57,619 units, a 13% decrease from May 2019. But, Retail sales grew 5% despite the COVID-19 pandemic.

Fleet sales were down 79% and represented 5% of total volume.

Hyundai said its monthly sales results were significantly better than industry predictions that forecasted a 33% decline in May.

Hyundai sold 54,719 retail units in May, a substantial increase of 80% compared with the prior month, April 2020. Hyundai's SUVs represented 71% of the total retail mix, an all-time high.

Tucson set an all-time monthly retail sales record, selling nearly 15,000 units for an increase of 23%.

Santa Fe retail sales were up 1% and Palisade established a new overall and retail monthly sales record.

Toyota reportedly said that its monthly total vehicle sales in U.S. declined 25.7% from last year.

Separately, American Honda reported that its total sales for the month decreased 16.9 percent to 120,977 units from 145,532 units last year.

American Honda's total car sales for the month also decreased 24.6 percent to 51,169 units from the prior year. Total Truck sales declined 10.1 percent year-over-year to 69,808 units.

Meanwhile, Kia Motors America reported sales of 45,817 vehicles in May, compared to 60,062 vehicles last year. The company noted that demand for Kia's lineup of capable SUVs remained strong as Sportage and Sorento topped the sales chart and the all-new Seltos SUV delivered its best performance since going on sale in January.

General Motors, Ford Motor and other major automakers in recent years changed to quarterly sales reports from monthly reports.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of HSBC Holdings Plc (HSBC, HSBA.L) were down in London and Hong Kong trading after the Asia-focused British lender reported Monday sharply lower profit in its second quarter, hurt by higher expected credit losses, weak revenues as well as the absence of prior year gain. For fiscal 2020, the company projects expected credit losses or ECL charge in the range of $8 billion to $13 billion. Microsoft said Sunday that it is prepared to continue discussions to explore a purchase of TikTok in the United States. Other American investors could participate in the potential acquisition on a minority basis. Apple has hinted that the launch of its next flagship smartphone, the iPhone 12, may be delayed this year. During the tech giant's third-quarter earnings call on Thursday, Apple Chief Financial officer Luca Maestri indicated that the iPhone 12 may not launch in September this year. Maestri said that Apple expects to see recent strong performance continue for its current product lineup.
Follow RTT